Despite nearly two-thirds of employers indicating that
managing critical talent is vital for success, only a handful of employers feel
their programs are communicating these values to high performing staff.
In a new survey of more than 120 employers across industries
in the U.S. and Canada, Mercer finds that only 30% feel their programs are
“extremely effective” in hitting these goals.
“Companies are not capitalizing on all the approaches and
resources available, such as monitoring talent through workforce analytics,”
says Loree Griffith, a principal in Mercer’s talent practice. “While companies
spend a good deal of time and money identifying and rewarding top employees,
they put much less effort into formally tracking and communicating the
development of talent – areas that can surely make talent strategies more
effective.”
Findings from Mercer’s Critical Talent Practices Survey
highlight that roughly 49% of organizations have told critical talent of their
worth in the company hierarchy, but only 34% currently track this employee
group with HR analytical systems.
Approximately three-quarters of the organizations surveyed
identify that 2-5% of the workforce is categorized as critical. Mercer explains
HR managers and leadership should incorporate additional transparency and
communication measures in order to hold onto critical talent. The survey’s findings translate this, as
approximately 59% of organizations want to make a difference in their job
function.
Additionally, tracking career progression, health living and
wellness and recognition were heralded as top non-cash rewards for employees.
Furthermore, more than half of organizations surveyed feel that they need to
invest in their company’s brand in order to attract and retain employees.
“Given companies’ focus on employment branding and the
prevalence of non-cash rewards, better communication with critical talent along
with greater transparency regarding critical talent status are two worthy
considerations to further differentiate the employee experience,” says
Griffith.
Source: Employee
Benefit News
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